Samsung Electronics Logs 6.25 Trillion Won in Q2 Net Profit

Seoul, July 31 (QNA) -Samsung Electronics Co., the world’s top maker of smartphones, said Thursday its second-quarter net profit fell 19.5 percent from a year earlier as its mainstay handset business suffered from rising competition in the global market.

Net income came to 6.25 trillion won (US$6.1 billion) in the April-June period, compared with 7.77 trillion won a year earlier, the company said in a regulatory filing.

Sales fell 8.89 percent on-year to 52.35 trillion won in the second quarter. Its operating profit came to 7.19 trillion won, down 24.59 percent from the previous year.

The figures were in line with Samsung’s guidance released earlier this month that estimated the second-quarter operating profit at 7.2 trillion won and sales at 52 trillion won.

Shares of Samsung Electronics closed at 1,395,000 won on Wednesday, up 0.65 percent from the previous session, when the KOSPI advanced 1 percent.(QNA)

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